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UAE economy growth expected to exceed 3% in 2019, Gold reserves rise 2.2% in October, Gucci hosts party to celebrate The Dubai Mall store.
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Market News
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UAE economy growth expected to exceed 3% in 2019.
The UAE’s economy minister expects the country’s gross domestic product (GDP) to grow by 2.5-3 per cent in 2018 and by more than 3 per cent in 2019. Recently Sultan Bin Saeed Al Mansouri was speaking to reporters in Abu Dubai on the sidelines of the UAE-Lebanon Investment Forum.
Earlier this year, the International Monetary Fund (IMF) forecast GDP growth of 2.9 per cent this year and 3.7 per cent next year for the economy. Al Mansouri did not elaborate further on why he thinks growth will be higher next year but a senior official from the Ministry of Economy said that introduction of the foreign direct investment (FDI) law, as well as diversification of the UAE economy, will be key factors that will push GDP higher next year.
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Gold reserves rise 2.2% in October.
The gold reserves of the UAE Central Bank grew to Dh1.077 billion in October, an increase of 2.2 per cent over Dh1.053 billion in September, according to a statement.
The rise in the Central Bank’s balance came in parallel with sharp improvement in the prices of the yellow metal during the past two months when the Ounce Gold Bullion Bar increased to more than $ 1,237 after the strong decline witnessed in September when the prices hit $1, 200.
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Company News
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Gucci hosts party to celebrate The Dubai Mall store.
Gucci hosted an event in Dubai to celebrate the Dubai Mall Gucci store on December 5th, 2018. The in-store cocktail event was marked by the appearance of A$AP Rocky followed by a private party in collaboration with Sole Dxb where A$AP Rocky also performed. |
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Audemars Piguet celebrates Royal Oak Offshore 25th Anniversary in Dubai.
Audemars Piguet, together with partner Ahmed Seddiqi & Sons, hosted a glamorous cocktail evening on 26th November at INKED, Al Serkal Avenue in Dubai to celebrate the Royal Oak Offshore 25 th Anniversary. |
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TAG Heuer announce the renewal of its partnership with the Aston Martin Red Bull Racing Formula 1 Team.
Stéphane Bianchi, CEO of TAG Heuer and President of the LVMH Watch Division, and Christian Horner, Team Principal of Red Bull Racing, announce that TAG Heuer is renewing its engagement as the Official Timekeeper, Official Watch, and Team Performance Partner of Red Bull Racing for an additional three years. |
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MBLM revealed UAE consumers top choice when it comes to choosing luxury brands.
MBLM’s 2018 report reveals, the luxury industry ranked 7 out of 15 industries surveyed. The most prevalent archetype the patterns or markers that characterize a brand was identity, which reflects aspirational images or a consumer’s deeply-held values. Together Louis Vuitton, Hugo Boss, Dior, Chanel, Gucci, Cartier, Burberry, Dolce & Gabbana, Hermes and Prada comprised the top 10 luxury brands among UAE consumers. |
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Product Launch
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Chopard presents L.U.C Perpetual T Spirit of ‘La Santa Muerte’.
Chopard introduces an exceptional new timepiece named the L.U.C Perpetual T Spirit of ‘La Santa Muerte’. Its gold case and dial are adorned with motifs typical of the Día de Los Muertos (Day of the Dead), which is generally celebrated as this saint’s feast day. Inside it, beneath the death mask, beats a supremely sophisticated calibre: a perpetual calendar tourbillon with a nine-day power reserve. A hand-sewn black alligator leather strap with alligator leather lining lends a final touch of elegance to this finely crafted watch. |
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Glashütte Original reveals the PanoMatic Luna.
The sparkling PanoMatic Luna cast a spell on their admirers. The Panorama Date at 4 o’clock and the intriguing moon phase at 2 o’clock, in which a diamond-cut silvery moon and stars shine from the night sky. The big date, although a characteristic feature of Glashütte Original, remains a rarity in a mechanical ladies’ watch. A light blue Louisiana alligator leather strap with pin buckle echoes the heavenly blue of the dial and rounds off the timepiece. |
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OMEGA releases the Speedmaster Dark Side of the Moon Apollo 8.
OMEGA introduces its new Speedmaster Dark Side of the Moon Apollo 8 timepiece. The unique design is instantly clear when you view the dial, which has been expertly skeletonized to reveal the blackened movement inside. To contrast this dark tone, the brand has chosen chronograph hands that are varnished yellow. The black and yellow theme extends to the perforated leather strap, which contains a section of yellow rubber through the middle. |
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Ateliers deMonaco endows its Sirène timepiece with a new Champagne colour.
Ateliers deMonaco, first launched its La Sirène timepiece in 2009. 9 years later, the brand offers its leading lady a beautiful new Champagne look for the festive season. The movement is its hand-engraved, 22-carat gold rotor, this traditional movement is encased by a 18-carat rose gold case magnified by 617 champagne-coloured diamonds. In perfect harmony with the case, a delicate flower called King Protea is represented on the dial. Finally, to echo the colour of the white mother-of-pearl and the base of the rhodium-plated rose gold dial. |
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Tissot T-Race Marc Marquez.
The Tissot T-Race Marc Marquez gives homage to the celebrated new Tissot ambassador, Marc Marquez. The youngest ever five-time MotoGPTM World Champion, one-time Moto2 and one-time 125cc World Champion speeds to victory in his orange team colours, reflected here in pops of bright colour and in exuberant orange stitching on the sporty black rubber bracelet. A sleek watch case in black and grey PVD adds an efficient edge, hinting at the proficiency of Marc Marquez himself. |
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Azza Fahmy’s new iconic collection.
Azza Fahmy launches a capsule collection designed by Amina Ghali. The stylish 5-piece handcrafted collection, ideal for day or evening, includes the diamond infused18Kt Gold Necklace and Bracelet set inscribed with the word Happiness and a dainty eye charm. Continuing the theme is the18kt Gold and Sterling Silver matching necklace and bracelet with champagne diamonds and inscribed with words of love We Shall Never Part. |
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Celebrity News
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Laetitia Casta shines in Maison Boucheron to the 2019 Pirelli Calendar launch in Milan, Italy
At the occasion of the 2019 Pirelli Calendar launch in Milan, Laetitia Casta, French actress and Ambassador of the Maison Boucheron, wore the Plume de Paon earrings, paved with diamonds in white gold, an iconic collection of the Maison Boucheon. |
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Gigi Hadid wears Chopard to the 2019 Pirelli Calendar Launch Gala in Milan, Italy
Gigi Hadid attended the 2019 Pirelli Calendar Launch Gala in Milan, Italy, wearing jewelry by Chopard. Gigi Hadid sparkled in a necklace featuring 44.84-carats of round-shaped diamonds and 13.91-carats of pear-shaped diamonds set in 18k white gold, a pair of earrings featuring diamonds set in 18k white gold, all from the “Haute Joaillerie Collection”. |
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